$0.03 CPM Redemption Method via A+
 

Sorry if this is common knowledge around here but as my goal with my miles is upgrades, I've been looking at the best way to do this with my Rapid Rewards points. Turns out, transferring to A+ offers a pretty good redemption rate CPM-wise:

1,200 RR points = 1 A+ credit
16 A+ credits (19,200 RR points) = 1 One-way business class ticket
1 One-way business class tickets = (conservatively) $600
60000/19200 = $0.0312 CPM redemption

Let me know if I'm missing anything here but based on that it looks pretty good.

Edit: Also based on this you can out right buy the $600+ ticket by purchasing 20,000 miles @ $500. I also see that the business class pricing goes down some on non-stop flights. However, the route im looking at (SFO - BWI) this is certainly the best deal for a non-coach seat.

There are no non-coach seats on WN...all seats are virtually identical, with a few exit-row and bulkhead exceptions.

There are, however, business class seats on AirTran. OP is transferring RR points to A+ credits and redeeming them at AirTran.

If you are AirTran A+ Elite you could just risk it and hope to get upgraded to business class as well (http://www.aplusrewards.com/elite.aspx).

Yes, so far in my experience in the mileage game I've been trying to figure out the best way to guarantee business class seats (being 6'4 I do my best to avoid coach) without paying full fares. This is tough when travelling the majority of the time with a companion.

However, the AirTran redemption is about the closest I've come to a good redemption for business class. Compare AirTran @ 19,200 RR points (16 A+ credits) against the milesAAver awards for business on American @ 25k points. Not to mention these rewards seem to be available any time (which would then be possibly comparable to the 50k any time awards via American).

I'm sure the AirTran product isn't quite the same as other legacy carriers but for a bigger seat, priority checkin, and free drinks it strikes me as a good deal.

My only comment is that RR can be redeemed for any flight which might add value. I have heard horror stories about trying to redeem awards on Airtran (no personal experience though).
Now buying a ticket on Airtran and redeeming 4 credits for upgrade might work.

Don't fall too much in love with it...its going away as AirTran folds into Southwest over the next year or two (or three?). I am not sure when the business class will fully disappear, but it is.

I have had a very hard time finding coach AirTran awards, you have to be really really flexible it seems, like fly out on a Wed and return on a Wed. I have not looked at last min redemption, maybe they open up more seats closer up? I do like that business class is available mostly all the time for redemption when booked in advance, but it does eat a lot of credits (or points).

This (purchase coach & upgrade with 4 A+ credits) is what I usually do when I'm short of credits and/or want my flight to count toward elite status. There is almost always Biz class availability the day before departure, so if you're quick (e.g. call just after midnight on the 5th to get an upgrade on the 6th). I only use 16 A+ credits to purchase a one-way business class ticket when a) there is no coach award availability, b) I am limited in flexibility, and c) coach prices are high enough that I feel I'm getting a reasonable deal for my A+ credits.

As millere2 mentioned, the old-style awards are more difficult to find availability. However, if you are looking to book an award close to departure, the new points "price" will be high to reflect the ticket cost. Close-in awards are also easier to find availability.